Mitsubishi UFJ Asset Management Co. Ltd. Buys 17,162 Shares of Garmin Ltd. $GRMN

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Garmin by 5.2% in Q4, buying 17,162 shares to hold 347,325 shares (about 0.18% of the company) valued at $70.31 million.
• Garmin beat estimates with $2.08 EPS (vs. $1.84 expected) and $1.75B revenue (up 14% YoY), set FY2026 guidance at $9.35 EPS, and declared a $1.05 quarterly dividend ($4.20 annual, ~1.7% yield).
• Insider selling totaled 40,725 shares (~$10.21M) last quarter including CEO and CFO sales, while analysts' consensus rates Garmin a Moderate Buy with an average price target of $268.40.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 347,325 shares of the scientific and technical instruments company's stock after acquiring an additional 17,162 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Garmin worth $70,312,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Garmin by 0.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,107 shares of the scientific and technical instruments company's stock valued at $5,296,000 after purchasing an additional 72 shares during the period. Principal Financial Group Inc. grew its position in shares of Garmin by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 200,083 shares of the scientific and technical instruments company's stock valued at $40,587,000 after purchasing an additional 6,126 shares during the period. Truist Financial Corp grew its position in shares of Garmin by 15.5% in the 4th quarter. Truist Financial Corp now owns 21,118 shares of the scientific and technical instruments company's stock valued at $4,284,000 after purchasing an additional 2,836 shares during the period. Sun Financial Inc acquired a new position in shares of Garmin in the 4th quarter valued at approximately $416,000. Finally, Pittenger & Anderson Inc. grew its position in shares of Garmin by 11.3% in the 4th quarter. Pittenger & Anderson Inc. now owns 25,490 shares of the scientific and technical instruments company's stock valued at $5,171,000 after purchasing an additional 2,597 shares during the period. 81.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays decreased their price objective on Garmin from $240.00 to $238.00 and set an "equal weight" rating for the company in a research report on Thursday, April 30th. Morgan Stanley set a $249.00 price objective on Garmin in a research report on Thursday, April 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a research report on Thursday, January 22nd. Tigress Financial boosted their price objective on Garmin from $310.00 to $320.00 and gave the company a "strong-buy" rating in a research report on Friday, February 20th. Finally, Zacks Research lowered Garmin from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $268.40.

Garmin Stock Down 0.4%

NYSE:GRMN opened at $241.80 on Friday. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $273.32. The business has a 50 day moving average price of $246.88 and a two-hundred day moving average price of $222.86. The company has a market cap of $46.63 billion, a P/E ratio of 26.96, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. The business's revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, analysts anticipate that Garmin Ltd. will post 9.57 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a yield of 1.7%. Garmin's dividend payout ratio is 46.82%.

Insider Activity

In other Garmin news, CEO Clifton A. Pemble sold 19,914 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the completion of the transaction, the chief executive officer owned 124,075 shares of the company's stock, valued at $31,214,788.50. This represents a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas G. Boessen sold 3,487 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total value of $877,538.42. Following the transaction, the chief financial officer directly owned 28,049 shares of the company's stock, valued at approximately $7,058,811.34. This trade represents a 11.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 40,725 shares of company stock worth $10,213,222. 15.38% of the stock is currently owned by insiders.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin's products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin's product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.

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